CBUAE imposes sanction of AED10.7 million on exchange house
The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the exchange houses industry and safeguard the UAE financial ecosystem.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sharjah 24
a day ago
- Sharjah 24
CBUAE imposes sanction of AED10.7 million on exchange house
The financial sanction has been imposed after assessing the findings of an examination conducted by the CBUAE, which revealed that the exchange house failed to comply with the AML/CFT policies and procedures and Sanctions obligation. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the exchange houses industry and safeguard the UAE financial ecosystem.
Dubai Eye
2 days ago
- Dubai Eye
UAE Central Bank fines exchange house AED10.7 million
The Central Bank of the UAE (CBUAE) has imposed a fine of AED10.7 million on an exchange house for violations of anti-money laundering and counter-terrorism financing regulations. The decision was taken after an investigation conducted by the Central Bank revealed that the exchange house failed to "comply with anti-money laundering and combating the financing of terrorism policies." The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners and staff abide by the UAE laws adopted to safeguard the transparency and integrity of the UAE financial system.
Gulf Today
2 days ago
- Gulf Today
CBUAE imposes financial sanction of Dhs10.7 million on exchange house
The Central Bank of the UAE (CBUAE) imposed a financial sanction of Dhs10,700,000 on an exchange house, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations, and its amendments. The financial sanction has been imposed after assessing the findings of an examination conducted by the CBUAE, which revealed that the exchange house failed to comply with the AML/CFT policies and procedures and Sanctions obligation. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all exchange houses, their owners, and staff abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the exchange houses industry and safeguard the UAE financial ecosystem. WAM
